15D Paterson Street Frankton, Hamilton City

VIEW BY APPOINTMENT ONLY

A great opportunity for an astute investor looking for a low maintenance hands-off investment, that has a Government guaranteed rental income and is in a prime location. No concerns with tenanting in the future with this property.

This large 100 sqm Unit is constructed of brick with aluminium joinery and a colour steel roof. The driveway is sealed and the private courtyard is self contained. A low maintenance property, located well back from the road and in an excellent condition.

A real bonus is that Kainga Ora pay the lease each month directly to the owner which means that the lease payment is Government guaranteed. The lease payment received by the owner from Kainga Ora is $1,945 per month (net). The next Consumer Price Index Adjustment Date for the lease will be October 2025. The lease with Kainga Ora runs until 3 October 2026. Should the new owner wish there may well be the possibility of extending the lease with Kainga Ora. The current owner could approach Kainga Ora regarding the possibility of extending the lease should this be of interest.

This is a hands off investment as Kainga Ora both select the tenant as well as property managing them. The Body Corporate covers external repairs and maintenance and takes care of all of this. The Body Corporate Levy is $2,481.45 per year which includes the Building Insurance. The Hamilton City Council rates are $2,412.50 per year and the Waikato Regional Council rates are $453.31 per year.

This is a popular location in Hamilton that is in demand from both property owners as well as tenants. Close nearby to the Hamilton Central Business District. Within easy commuting distance of Waikato Hospital.

This property will be sold so you will need to make a time to look through it. Please call the listing salesperson Kevin Benge now of 0210666972 to avoid disappointment.

PLEASE NOTE: Specified floor and land area sizes have been obtained from sources such as Property Guru, Waikato Council (LIM) or Title documents. They have not been measured by the Salesperson or Online Realty Ltd. We recommend you seek your own independent legal advice if these sizes are material to your purchasing decision.